The seventh 4Ps Business & Marketing annual ranking of India’s 100 Most Valuable Brands is here again to tell you which brands struck the cosiest chords with consumers during the year. It was certainly not a cake walk. We teamed up with Indian Council for Market Research (ICMR) to fetch the best from a mind-boggling list of 40,000 brands. However, after a great amount of brain storming, colossal data crunching, and intensive primary research work in three phases over the past nine and a half months, we finally caught on to the swinging mood of the Indian consumers. So, here is the lock, stock and barrel of the method behind the madness of arriving at the 4Ps Business & Marketing India’s 100 Most Valuable Brands 2012…
The Phase I started with preparing a holistic list of local, national and international brands (40,000) present in India, which was then scaled down to a master list of 1,420 brands based on the growth, reach, demand and availability (in at least 4 metros and Bengaluru) further divided into 30 broad categories with over 100 sub categories. Both domestic and international brands having their presence in India were taken into consideration for the final phase of the research.
Next, ICMR prepared a structured questionnaire on parameters of Brand Awareness and Preference. Based on the questionnaire a primary research was conducted in Delhi, Mumbai, Kolkata, Bengaluru and Chennai with 5,000 respondents. Based on the frequency of brands under the parameters, as found in the primary research, ICMR shortlisted top 200 brands across all categories.
The second phase of the survey was initiated after tabulating the top 200 brands. A structured questionnaire was formed and one-on-one interviews were carried out with 4,500 respondents in eight cities (Delhi, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Pune and Chennai) across India. In order to avoid any bias, the order of the brands was changed for each of the cities. Each of the cities was divided into four zones namely North, South, East and West to ensure complete coverage of the city in terms of the target audience. Further, the respondents were selected based on socioeconomic classification (SEC) i.e. education, occupation, gender and monthly income. In case of respondents such as housewives, students, et al, the monthly income of the Chief Wage Earner (CWE – Head of Household) has been taken into consideration. This survey intended to account for the Brand Equity (difference between perceived value of the brand and the core product, i.e., the total value of the brand minus that part of the value “owed” to the core product, which equals the value that accrues from the brand part of the product) of various brands by asking the respondents to rate them on the following parameters:
Brand Image and Perception: A unique set of associations within the minds of target customers which represent what the brand currently stands for and implies the current promise to the customers.
Brand Performance: This parameter involved the critical analysis of the sales, profits, growth, performance, distribution, market share, goodwill, word of mouth publicity in target markets, competitor analysis and overall marketing initiatives.
Brand Loyalty: The inclination to continue buying the same brand (It is important to note that the loyalty parameter was rated by only consumers of the brand with a minimum of one year of association with the brand and the calculations have been made accordingly).
Brand Awareness: The proportion of target customers that recall a brand. Brand awareness is a common measure of marketing communication’s effectiveness. Brand Association: Association refers to that aspect of a brand’s marketing cycle wherein the brand reaches such a stage that it becomes synonymous with that product category. So, when a brand is advertently or inadvertently related to any value, personality or attribute, it denotes an association.
The respondents rated each of the brands on a scale of 1-5 (5 being the highest). The survey results were then compiled to draw the final list of 4Ps B&M India’s 100 Most Valuable Brands 2012.
In Phase III ICMR conducted a separate opinion poll across five major cities of India to vote for the most promising brands across categories. The parameters taken into consideration were sustainability, aspiration, brand awareness and brand image & perception. The most recalled brands and top rated brands (based on the frequency) were picked up to be listed in the category of the Most Promising Brands for the year 2012.
Note: This year the survey has not taken into consideration the B2B segment and concentrated primarily on consumer brands.
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Source : IIPM Editorial, 2013
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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